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As it has become clear that massive changes in relation to technology will have an impact upon accounting and corporate reporting, the IASB is looking for a 'Technology Principal' who will be responsible for "a group of projects related to the effect of technology on financial reporting and standard-setting".

The Institute of Chartered Accountants in England and Wales (ICAEW), in association with the Carbon Trust, have published a practical guide on how organisations can best implement the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

The IASB will meet for a two-day meeting on 22-23 May 2018. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. For each topic to be discussed we summarise the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and the staff recommendations.

The Committee on Economic and Monetary Affairs (ECON) of the European Parliament welcomed representatives of the European Financial Reporting Advisory Group (EFRAG) today for a hearing, which took place while EFRAG is working on its draft endorsement advice on IFRS 17 'Insurance Contracts' and ECON is working on a draft motion for a resolution.

HM Treasury has issued a consultation on proposals for the application of IFRS 16 ‘Leases’ across the public sector (excluding public bodies outside of the Government Financial Reporting Manual 2017-2018 (FREM) scope).

The London Stock Exchange has announced that all AIM companies will need to report on their application of a recognised corporate governance code on their website with effect from 28th September 2018. To coincide with the changes to the AIM Rules, the Quoted Companies Alliance (QCA) has issued a revised and fully updated QCA Corporate Governance Code.

The International Accounting Standards Board (the IASB) has issued a revised Conceptual Framework. In this edition of 'Need to Know', we outline the main changes and the key concepts in the revised Framework.

We have commented on the IFRS Interpretations Committee's publication in the March 2018 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the types of borrowings to be included in the statement of cash flows as a component of cash and cash equivalents.

We have commented on the IFRS Interpretations Committee's publication in the March 2018 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the classification by a holder of a ‘dual currency bond’ with a par amount denominated in one currency and fixed interest coupon payments denominated in another.

We have commented on the IFRS Interpretations Committee's publication in the March 2018 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the application of the ‘highly probable’ criterion for cash flow hedge accounting applies to a hedge relationship in which the notional amount of the hedging instrument (a ‘load following swap’) varies depending on the outcome of the hedged transaction.

This accounting roundup, covering the period January 2018 through to March 2018, pulls together the headlines for all the latest developments in accounting, providing links to a wealth of further information and resources.

The IASB held a public meeting on Wednesday 24 and Thursday 25 January 2018. There were six topics on the agenda with the longest slots for primary financial statements and the PIR of IFRS 13 'Fair Value Measurement'.

The IASB met in public on Wednesday 13 and Thursday 14 December 2017. There were seven topics on the agenda with the longest slots (two hours each) for primary financial statements and goodwill and impairment.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.

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